IRON ORE: Co-operation pact inked for New Millennium DSO

QUEBEC – Tata Steel Minerals Canada, a joint venture of Calgary's New Millennium Iron Corp. (20%) and India's Tata Steel (80%), has signed a co-operation agreement with the NunatuKavut Community Council (NCC) for the DSO iron project near Schefferville.

The NCC is the aboriginal organization representing the 6,000-member Southern Inuit of Labrador who have asserted land rights to a large part of Labrador. The new agreement addresses their concerns and provides socio-economic benefits.

The DSO project is a brownfield site where the Iron Ore Company of Canada had a mine from 1954 to 1982. The $300-million project is already shipping ore to the port of Sept-Iles thanks to a mobile crushing plant at the mine site. Meanwhile, work continues on the activities to construct permanent surface facilities.

News from every step of development is posted at NMLiron.com.